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Aug 14, 2017

Hungary's outlook is good and foreign investors are optimistic about the future, according to leading survey

The International Agency of the Austrian Chamber of Commerce conducted the public opinion poll among 166 Austrian businesses settled in Hungary to collate their results

Hungary's outlook is good and foreign investors are optimistic about the future, according to Advantage Austria.

The International Agency of the Austrian Chamber of Commerce conducted the public opinion poll among 166 Austrian businesses settled in Hungary to collate their results.

According to their survey, eighty-one per cent of businesses believe that there is an unchanged or improving development in Hungary’s economic situation this year.

Leier Hungária Kft. is a prime example of this success in Hungary. The Austrian company has been around for 30 years and become a market leader in the production of construction industry elements. They announced an investment worth more than 7 billion HUF at the end of July, 2017.

The public opinion poll found that the majority of the managing directors of the companies settled in Hungary are reckoning with an increase in the sales and orders of their businesses.

More than one half of the businesses interviewed expect to see unchanged employment figures in the next 12 months.

Almost one third of the investors interviewed indicated that their investments in Hungary will increase this year.

Jürgen Schreder, Commercial Counsellor of the Austrian Embassy, the Budapest head of Advantage Austria said the findings of the research were positive.

“Austria is Hungary’s second most important trade partner, and with its 16.7 percent share of total investments, it is the third largest foreign investor," he said.

According to Austrian businesses, the greatest obstacle to successful market expansion continues to remain the limited availability of qualified work force or the lack of the qualifications of the work force.

The Hungarian government is also seeking to create a favorable investment environment through the promotion of the cooperation of higher education institutions and industrial centers, the extension of dual training and the encouragement of work force mobility.